Neos mission is to create a more sustainable future for business, the community, and the environment.
As a result, Neos decided to develop and adopt a clear sustainability strategy and implement environmental, social and governance (ESG) principles into its business operation. As a first step in the process, Neos decided to conduct comprehensive ESG due diligence with the support of sustainability experts from VentureXchange Ltd.

The main objective of the ESG due diligence process was to highlight the company’s priorities and help align its business strategy with sustainability opportunities, risks, and stakeholders’ interests. The ESG Due Diligence process allowed Neos to determine which ESG KPIs contribute the most towards value creation and which risks may need to be mitigated from the sustainability perspective. The final outcome of the ESG Due Diligence process is the comprehensive ESG Due Diligence report, together with an action plan, which will help steer Neos’s sustainability strategy in the right direction.

The comprehensive ESG Due Diligence report was prepared in accordance with multiple standards, frameworks, and guidelines. The initial ESG due diligence screen was performed in accordance with the Invest Europe ESG Due Diligence Guidelines and Questionnaire. The in-depth ESG due diligence used ESG KPIs recommended by ESG Data Convergence Initiative, spearheaded by the Institutional Limited Partners Association (ILPA). The materiality assessment was conducted with reference to the Global Reporting Initiative (GRI) and recommended sector-specific key performance indicators (KPIs) by the Sustainability Accounting Standards Board (SASB) guidelines. The carbon footprint was calculated using the GHG Protocol Standards, including the GHG Protocol Corporate Accounting and Reporting Standard (by GHG Protocol); and the Global GHG Accounting and Reporting Standard for the Financial Industry (joint initiative of the Partnership for Carbon Accounting Financials (PCAF) and GHG Protocol). The United Nations Sustainable Development Goals (SDGs) were used for the sustainability objectives of Neos.

The final outcome is that sustainability is fully integrated into Neos’ business strategy and long-term goals. Neos’s advancement on the sustainability journey put the company on the sustainability leadership trajectory in its respective industry niche, especially compared to local counterparts from the same geography.

The shorter version of the comprehensive ESG Due Diligence Report with the most important findings and highlights is available for download.